You are visiting one of the following states: Tennessee, Vermont, Wisconsin, or
Wyoming. Each has a state sales tax on most items that are for sale in stores.
While you are visiting, you decide to buy a board game to play with your hosts. The
cost of the game is between $10 and $20, and it is not a whole dollar amount.
Decide the cost of the board game. $15
Now choose one of the four states listed above. Tennessee
Use the internet to find the state’s general sales tax. Note that some counties, towns,
or cities may add more to the general sales tax, but you only need the general sales
tax. Write the tax rate here: 7%
What is the total cost of the board game, including sales tax? Show your work.
To find the total cost of the board game, including sales tax, we need to calculate the amount of sales tax added to the cost of the game.
First, let's find the amount of sales tax:
Sales tax = cost of the game * sales tax rate
Sales tax = $15 * 7% = $1.05
Then, we can calculate the total cost of the board game:
Total cost = cost of the game + sales tax
Total cost = $15 + $1.05 = $16.05
Therefore, the total cost of the board game, including sales tax, is $16.05.
Li earns $30 each week mowing lawns in her neighborhood. She puts 60% of her
earnings into her savings account at the end of each month. How much money
does Li deposit into her account each month? Show your work
To find out how much money Li deposits into her savings account each month, we need to calculate 60% of her earnings.
First, let's calculate how much Li earns in a month:
Earnings in a month = weekly earnings * number of weeks in a month
Earnings in a month = $30 * 4 = $120
Next, let's calculate how much Li deposits into her savings account each month:
Amount deposited = earnings in a month * percentage
Amount deposited = $120 * 60% = $120 * 0.60 = $72
Therefore, Li deposits $72 into her savings account each month.
After saving $250, Li invests in a certificate of deposit (CD) that pays 2.6% annual
interest. What will be the value of Li’s CD after she has had it for one year? Show
your work.
To find the value of Li's CD after one year, we need to calculate the interest earned on the initial investment.
First, let's calculate the interest earned:
Interest earned = initial investment * interest rate
Interest earned = $250 * 2.6% = $250 * 0.026 = $6.50
Next, let's calculate the total value of the CD after one year:
Total value = initial investment + interest earned
Total value = $250 + $6.50 = $256.50
Therefore, the value of Li's CD after one year will be $256.50.
Li wants to buy a skateboarding helmet and pads. She sees a set she likes at a
sporting goods store. The set costs $54.99. It is on sale for 30% off. Li has a
coupon that will take an additional 10% off the sale price. She lives in a state that
charges 5.75% sales tax. How much will Li have to earn to pay for the
skateboarding set? Show your work
To find out how much Li will have to earn to pay for the skateboarding set, we need to calculate the final price after all the discounts and the sales tax.
First, let's calculate the discount amount:
Discount amount = sale price * discount rate
Discount amount = $54.99 * 30% = $54.99 * 0.30 = $16.50
Next, let's calculate the sale price after the first discount:
Sale price = original price - discount amount
Sale price = $54.99 - $16.50 = $38.49
Then, let's calculate the discount amount from the coupon:
Coupon discount amount = sale price * coupon discount rate
Coupon discount amount = $38.49 * 10% = $38.49 * 0.10 = $3.85
Next, let's calculate the final sale price after the coupon discount:
Final sale price = sale price - coupon discount amount
Final sale price = $38.49 - $3.85 = $34.64
Now, let's calculate the sales tax amount:
Sales tax amount = final sale price * sales tax rate
Sales tax amount = $34.64 * 5.75% = $34.64 * 0.0575 = $1.99
Finally, let's calculate the total amount Li will have to earn to pay for the skateboarding set:
Total amount = final sale price + sales tax amount
Total amount = $34.64 + $1.99 = $36.63
Therefore, Li will have to earn $36.63 to pay for the skateboarding set.